According to HMRC, 3.4 million people still need to file their self assessment tax return for the tax year that ended on 5 April 2022. The deadline is 31 January 2023.

With only one week to go, Trusha Shah, tax manager at accountancy firm HW Fisher, has shared some advice for those who have not yet done so to avoid hefty fines.

Shah said: ‘Those who are still yet to file their self assessment must do so online – and we recommended that they do this as soon as possible.

‘All too often individuals leave it too late and make simple mistakes in the rush to complete on time.’

Those who have self-employed earnings or have received untaxed income over £1,000 will need to file a tax return. This includes income from renting out a property, including through Airbnb, and savings, investments, dividends and foreign income.